Risk Management: Risk Identification Methods

In Risk Management: Risk Identification Methods, you'll learn ...

• How to identify the various risk factors
• What to do with data collected during risk identification
• How to initiate the risk identification process

Overview

Preview a portion of this course before purchasing it.

Credit: 1 CPD

Length: 24 pages

This course is part of a series of six (6) courses covering the topic of Risk Management. There are no pre-requisites needed for any of the courses. If you have limited knowledge of risk management, you would benefit most by starting with the course “The Risk Management Process”.

The remaining courses can be taken in any order or as a “stand-alone” course, based on your needs and interests. The most logical course order if you are seeking to expand your overall knowledge in the field of risk management would be:

1. The Risk Management Process
2. Risk Identification Methods
3. Risk Analysis Methods
4. Risk Control Methods
5. Risk Financing Methods
6. Risk Management Program Administration, Review and Evaluation

The identification of risk is the initial step in the risk management process, and this course, “Risk Identification Methods”, will provide a deeper understanding of the methods and applications used to identify risk within a project or business venture.

Risk identification must be a deliberate and systematic process that is intended to determine and document the risk factors to which the organization or project is or may be exposed.

Through this module the you will gain an understanding of the four logical classifications of risk exposures (property, human capital, liability, and net income), the three types of risk exposure sources (strategic, operational and project), how to initiate the risk identification process, methods used to identify risk, what to do with the data collected during the risk identification process, and assigning ownership for identified risk factors to establish accountability.

Learning Objectives

Upon completion of this course, participants will be able to:

• Identify the basic concepts of risk factors and risk identification.
• Recognize the various risk identification methods.
• Classify the strengths and weaknesses of the various risk identification methods.
• Explain the documentation of identified risks.

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 12 questions. CPD credits are not awarded until the course is completed and quiz is passed.